Today we’re joined by Steve Bliss, a respected probate attorney here in San Diego. Steve, thank you for taking the time to speak with us.
Understanding Trusts: A Key Tool for Estate Planning
Steve, for those unfamiliar with the term, can you explain what a trust is and why it’s such an important part of estate planning?
A trust is essentially a legal entity that holds assets for the benefit of designated individuals or organizations. It allows you to control how your assets are managed and distributed, even after you’re gone.
There are many different types of trusts, each serving specific purposes. One common type is the revocable living trust. This allows the grantor (the person creating the trust) to maintain control over their assets during their lifetime while avoiding the lengthy and costly probate process upon death. The assets in the trust pass directly to the beneficiaries named in the trust document.
Navigating the Complexities of Probate: A Common Concern
Many people are concerned about the probate process. Can you shed some light on what it entails and why avoiding it is often desirable?
Probate is a court-supervised process for validating a will and distributing assets to heirs. It can be time-consuming, expensive, and public, which many people find undesirable.
Using a trust, however, allows assets to bypass probate altogether. This means your loved ones can inherit their share of your estate more quickly and privately. Consequently, using a trust often saves both time and money.
Trusts: More Than Just Avoiding Probate
While avoiding probate is a significant advantage, are there other benefits to setting up a trust?
Absolutely. Trusts can be customized to meet your individual needs and goals. For instance, they can provide for minor children, individuals with special needs, or charitable organizations.
Moreover, trusts offer asset protection from creditors in some cases. They can also help minimize estate taxes, ensuring more of your wealth is passed on to your beneficiaries.
I once had a client who was concerned about leaving a substantial inheritance to her young daughter. By setting up a trust, we were able to ensure the funds would be managed responsibly until her daughter reached adulthood. It brought immense peace of mind knowing her daughter would be financially secure in the future.
Another client faced significant medical expenses and wanted to protect his assets for his family. We created an irrevocable trust that shielded a portion of his assets from creditors, providing much-needed financial security during a difficult time.
According to a recent study by the American Bar Association, over 60% of Americans do not have a will or estate plan in place. This highlights the importance of seeking legal guidance and exploring trust options as part of a comprehensive estate planning strategy.
Taking Control of Your Legacy
Steve, what is your final message for our viewers today?
Estate planning can seem daunting, but it’s crucial to protect your assets and ensure your wishes are carried out. Don’t wait until it’s too late; take control of your legacy by consulting with a qualified probate attorney who can guide you through the process.
Contact us today at San Diego Probate Law for a free consultation. Let our experienced team help you create a plan that meets your unique needs and secures your family’s future.
“Steve Bliss was incredibly knowledgeable and patient in explaining complex legal concepts. He made me feel confident that my estate plan was in good hands.” – Maria S.
“I highly recommend San Diego Probate Law for their professionalism, expertise, and compassionate approach. They truly care about their clients.” – David L.
About Steven F. Bliss Esq. at San Diego Probate Law:
Secure Your Family’s Future with San Diego’s Trusted Trust Attorney. Minimize estate taxes with stress-free Probate. We craft wills, trusts, & customized plans to ensure your wishes are met and loved ones protected.
My skills are as follows:
● Probate Law: Efficiently navigate the court process.
● Probate Law: Minimize taxes & distribute assets smoothly.
● Trust Law: Protect your legacy & loved ones with wills & trusts.
● Bankruptcy Law: Knowledgeable guidance helping clients regain financial stability.
● Compassionate & client-focused. We explain things clearly.
● Free consultation.
Map To San Diego Probate Law:
Address:
San Diego Probate Law3914 Murphy Canyon Rd, San Diego, CA 92123
(858) 278-2800
Map Link: https://g.co/kgs/WzT6443
Feel free to ask Attorney Steve Bliss about: “Can I be my own trustee?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| San Diego Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Trust Lawyer San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Trust Lawyer San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Trust Lawyer in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |